Online work

Forum|Forum|2 years ago
February 28, 2024
1 reply
1 view

Work going private lessons online and I get compensation via online platforms like zelle, cashapp. How do I properly report that?

Ask the Experts - SelfEmployed - Feb 2024

SharonD007

Level 14

You will report this self-employment income on ‌Schedule C of your tax return. The IRS considers self-employment income as a business, so you will also be able to deduct common business expenses from your income. To enter you business and self-employment income, follow the steps below:

Open TurboTax
Select Wages & Income
Select Self-Employment Income and Expenses
TurboTax will guide you through the interview screens to help you enter your income.

Review the TurboTax articles Reporting Self-Employment Business Income and Deductions for more information on business deductions. For additional information, review What self-employed expenses can I deduct? and How do I report income from self-employment?

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